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Energy Minerals

CNOOC Ltd.

  • 12.08 HKD
  • +0.10
  • +0.83%
  • Hong Kong
    Aug 17, 2018
  • Ticker
    HKG(883)
  • Prev. close
    11.98
  • Market cap (HKD)
    534,876.50M
  • Market cap (USD)
    68,140.60M
  • Shares
    44,647.45M

Company Background

CNOOC Ltd. is a core subsidiary of China National Offshore Oil Corp., or CNOOC, a major Chinese state-owned oil company under the direct control of the State Council of the People's Republic of China.

CNOOC Ltd.'s main business is exploring and developing offshore crude oil and natural gas fields. In line with government policy, the company has been engaged in offshore development in such areas as the East China Sea and the South China Sea. In recent years, CNOOC Ltd. has expanded through buyouts of foreign companies. The company's activities are closely watched at home and abroad.

The parent company was founded in 1982 to co-develop offshore oil fields with major players abroad, due to a lack of the necessary technology in China at the time. Since then, CNOOC has accumulated significant technical know-how through such partnerships. CNOOC is China's third-largest oil company after state-run players China Petrochemical Corp., or Sinopec Group, and China National Petroleum Corporation, or CNPC.

In 2005, CNOOC Ltd. made a move to acquire U.S. oil major Unocal, but the Chinese company withdrew its bid due to a backlash in the U.S. Congress. But the CNOOC group did not lose its appetite for overseas acquisitions. China Oilfield Services, a unit under CNOOC, bought Norwegian rival Awilco Offshore for $2.5 billion in 2008. CNOOC Ltd. acquired Canadian energy giant Nexen for $15.1 billion in 2013, putting the group among the ranks of the global oil industry heavyweights.

In line with Beijing's reform drive targeting state-owned enterprises, the CNOOC group is stepping up efforts to improve profitability by, for example, diversifying. In 2009, CNOOC launched retail gasoline sales. Also, the company has begun a project to construct charging stations for electric vehicles, aiming to strengthen its presence in the business-to-consumer market to improve profitability.

Business Summary

CNOOC Ltd. is an investment holding company, which through its subsidiaries, engages in the exploration, development, production, and sale of crude oil, natural gas, and other petroleum products. It operates through the following segments: Exploration and Production, Trading Business, and Corporate. Its core operations areas is comprised of Bohai, Western South China Sea, Eastern South China Sea, East China Sea, Asia, Africa, North America, South America, Oceania, and Europe. The company was founded on August 20, 1999 and is headquartered in Hong Kong.

Financial Highlights

Dec 2017 HKDUSD
Revenue214,860.44M27,571.60M
Gross Profit75,856.97M9,734.21M
Operating income59,065.72M7,579.50M
Income before tax41,922.78M5,379.66M
Net income28,454.72M3,651.40M
EBITDA130,342.63M16,725.99M
Diluted EPS0.630.08
Dividends Per Share0.500.06
Total Assets740,937.66M94,781.78M
Total liabilities284,798.45M36,431.81M
Total equity456,139.21M58,349.96M
Operating cash flow106,575.20M13,676.08M
Currency in HKDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 331,120.26M 321,632.31M 211,391.44M 171,161.62M 214,860.44M
Gross Profit 130,658.48M 131,229.38M 46,122.30M 31,825.38M 75,856.97M
Operating income 97,505.57M 107,995.67M 26,207.76M 14,580.69M 59,065.72M
Income before tax 100,881.93M 102,578.96M 18,782.21M -6,074.60M 41,922.78M
Net income 71,237.86M 75,762.21M 24,973.04M 744.28M 28,454.72M
EBITDA 171,139.45M 184,354.43M 119,796.87M 96,939.01M 130,342.63M
Diluted EPS 1.58 1.69 0.55 0.01 0.63
Dividends Per Share 0.57 0.57 0.50 0.35 0.50
Total Assets 795,973.88M 849,282.32M 792,919.97M 711,423.33M 740,937.66M
Total liabilities 358,431.78M 374,779.00M 332,177.75M 284,834.40M 284,798.45M
Total equity 437,542.09M 474,503.32M 460,742.21M 426,588.92M 456,139.21M
Operating cash flow 139,075.40M 138,336.30M 96,207.79M 82,863.07M 106,575.20M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 42,688.60M 41,475.88M 27,267.26M 22,049.92M 27,571.60M
Gross Profit 16,844.72M 16,922.60M 5,949.29M 4,099.91M 9,734.21M
Operating income 12,570.59M 13,926.51M 3,380.52M 1,878.36M 7,579.50M
Income before tax 13,005.87M 13,228.00M 2,422.70M -782.56M 5,379.66M
Net income 9,184.11M 9,769.86M 3,221.25M 95.88M 3,651.40M
EBITDA 22,063.59M 23,773.30M 15,452.53M 12,488.18M 16,725.99M
Diluted EPS 0.20 0.21 0.07 0.00 0.08
Dividends Per Share 0.07 0.07 0.06 0.04 0.06
Total Assets 102,656.64M 109,516.28M 102,310.26M 91,759.26M 94,781.78M
Total liabilities 46,226.89M 48,328.33M 42,860.81M 36,737.89M 36,431.81M
Total equity 56,429.74M 61,187.94M 59,449.45M 55,021.36M 58,349.96M
Operating cash flow 17,929.84M 17,839.06M 12,409.78M 10,674.85M 13,676.08M

Valuation Measures

Dec 2017
PER17.69
ROA3.91%
ROE6.44%
Operating margin27.49%
Profit margin13.24%

Key executives

  • Chief Executive Officer & Executive Director: Guang Yu Yuan
  • President & Executive Director: Ke Qiang Xu
  • Chief Financial Officer: Wei Zhi Xie
  • Executive VP & GM-Exploration Department: Yu Hong Xie
  • Joint Secretary & GM-Investor Relations: Jie Wen Li

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (64.4%)
  • The Vanguard Group, Inc. (1.2%)
  • BlackRock Fund Advisors (0.9%)
  • State Street Global Advisors Asia Ltd. (0.4%)
  • Norges Bank Investment Management (0.3%)
  • The Caisse de depot et placement du Quebec (0.3%)
  • FIL Investment Management (Hong Kong) Ltd. (0.3%)
  • APG Asset Management NV (0.3%)
  • Schroder Investment Management Ltd. (0.3%)
  • BlackRock Asset Management North Asia Ltd. (0.3%)

Contact Details

  • Website:http://www.cnoocltd.com
  • Address: 65th Floor, Bank of China Tower, 1 Garden Road, Hong Kong, Hong Kong
  • Phone: +852.2213.2500

Related Companies

  • CNOOC Xingcheng Sale Shanghiai Co., Ltd.
  • CNOOC Congo SA
  • CNOOC Canada Ltd.
  • CNOOC Africa Ltd.
  • CNOOC Hainan Gas Co., Ltd.
  • CNOOC International Financial Leasing Co., Ltd.
  • CNOOC Iraq Ltd.
  • CNOOC UK Ltd.
  • CNOOC Oil Base Group Ltd.
  • Cnooc Finance (2015) USA LLC
  • Cnooc Finance (2015) Australia Pty Ltd.
  • China Offshore Oil Engineering Co. Ltd.
  • Chaoyang Petroleum (BVI) Ltd.
  • CNOOC Australia E&P Pty Ltd.
  • CNOOC NWS Pte Ltd.
  • CNOOC Finance (2012) Ltd.
  • CNOOC Oil & Petrochemicals Co., Ltd.
  • CNOOC Luxembourg SARL
  • CNOOC China Ltd. /Tianjin Branch/
  • CNOOC Research Institute
  • Nanhai East Oil Corp.
  • CNOOC Finance (2011) Ltd.
  • CNOOC Africa (UK) Ltd.
  • CNOOC Ses Ltd.
  • CNOOC Fujian Gas Power Co., Ltd.
  • CNOOC Deepwater Development Ltd.
  • CNOOC Insurance Ltd.
  • CNOOC Southeast Asia Ltd.
  • CNOOC International Ltd.
  • CNOOC China Ltd.

Competitors

  • China Petroleum & Chemical Corporation Class H
  • PetroChina Company Limited Class H
  • Public Joint-Stock Company Gazprom
  • Cenovus Energy Inc.
  • Imperial Oil Limited
  • Vedanta Resources plc
  • YPF SA Class D
  • Hurricane Energy Plc
  • Trinity Exploration & Production Plc
  • Europa Oil & Gas (Holdings) plc
  • Providence Resources Plc
Last Updated on 17 Aug, 2018

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